Enrolled Senate Bill 404 - Summary

• Establishes the "Personal Injury Trust Fund Transparency Act" requiring plaintiffs to disclose all personal injury claims filed or anticipated against government-approved or court-approved compensation trusts within 90 days of filing suit.

• Plaintiffs must produce final executed proofs of claim and all trust claims materials to all parties, with supplementation required within 30 days of filing additional claims or receiving new information.

• Trial scheduling is prohibited before 180 days after plaintiff makes required disclosures; proceedings are stayed if plaintiff anticipates but has not yet filed a trust claim.

• Defendants may move the court within 90 days before trial to identify personal injury trusts against which they believe the plaintiff can file successful claims; plaintiff must then file claims or provide written response explaining insufficient evidence within 10 days.

• Court must establish an attributed value for pending personal injury trust claims based on trust governance documents and allow defendants a setoff or credit against any damages awarded equal to the trust valuation plus amounts already received from the trust; plaintiffs who fail to provide required information are subject to sanctions.

• Effective date: November 1, 2013.